STATEMENT 


OF   THE  — 


—  OF   THE  — 


OF   THE  — 


UNIVERSITY    OF    CALIFORNIA 
From  Sept.  1st,  1869,  to  Feb.  1st,  1878. 


'    L  I  B  R  A  R  Y 

I    NIVEKSITY   OF 

CALIFORN. 


To  A.  S.  HALLIDIE,  ESQ., 

CHAIRMAN  OF  FINANCE  COMMITTEE, 
OF  THE  BOARD  or  REGENTS  OF  THE  UNIVERSITY  OF  CALIFORNIA: 

DEAR  SIR  : 

In  compliance  with  your  request  for  a  statement  of 
the  expenses  of  the  Administration  of  the  Land  Department  of  the 
University  of  California,  and  the  credits  properly  belonging  thereto, 
as  well  as  the  amounts  derived  from  the  sale  of  the  grant  of  150,000 
acres,  the  following  is  respectfully  submitted  : 

STATEMENT  OF  THE  CREDITS  AND  EXPENSES  OF  THE 
LAND  ADMINISTRATION, 

From  September  1st,  1869,  to  February  1st,  1878. 
CREDITS. 

By  Interest  on  Certificate  of  Deposit $15,167.39 

By  Interest  on  Excess  Payments 3,372.46 

By  Discount  on  Currency  (payment  of  excess  to  U.  S. 

Receivers) 933.92 

By  Fees  paid  on  Applications — Certificates  of  Pur- 
chase and  Patents 8,858.50 

By  Fees  deposited  with  the  Bank  of  California  and 

in  office 1,07250 


Total  Credit $29,404.77 

EXPENSES. 

Maps  for  Locating  Agents  and  Office 105.00 

Fees  paid  United  States  Receiver 100.00 

J.  C.  Hays— for  locating  Lands 1 ,200.00 

Salaries  of  Land  Agents,  Deputies  and  Janitors 20,960.66 

Sundry  Office  Expenses,  Furniture,  etc 1,020.67 

Telegraphing  and  Expressing 122. 50 

Advertising  and  Printing 173.85 

Expenses  of  Office  removals 182.00 

Postage  and  Revenue  Stamps 259.50 

Stationery 204.50 

Fuel  and  Lights 112. 70 

Rent  of  Offices 2,240.00 

Legal  Services 626. 25 


Total  Expenses $27,307.63 


Excess  of  Credits  over  Expenses $2,097. 14 


SALES  OF  AGRICULTURAL  COLLEGE  LANDS. 

To  February  1st,  1878,  Certificates  of  Purchase  have  been  issued 
for  128,924.20  Acres,  on  which  cash  payments  have  been  received, 
amounting  to  $328,610.48,  leaving  a  balance  of  principal  unpaid  of 
$316,090.52,  bearing  interest  at  the  rate  of  ten  per  cent,  per  annum, 
(on  all  timbered  lands  on  which  a  balance  of  principal  is  due,  bonds 
are  required  with  two  approved  sureties.) 

To  February  1st,  1878,  the  University  has  received  from  the  pro- 
ceeds of  the  sale  of  the  Agricultural  Grant  of  150,000  Acres,  over 
and  above  all  expenses  of  the  Land  Department,  the  following 
amounts,  viz  : 

Interest  on  Bonds $  35,559.53 

Interest  on  deferred  payments  of  balance  of  principal     167,805.12 
Add  Credit  Balance  over  Expenses 2,097. 14 


Total  Net  Income  received  from  Grant. .  $205,461.79 

By  reference  to  the  Report  of  the  Committee  on  Education  and 
Labor,  submitted  to  Congress  January  13th,  1875,  giving  the  amount 
per  acre  received  by  thirty-seven  Agricultural  Colleges,  from  sales  of 
these  Agricultural  Grants,  it  will  be  found  that  the  average  price 
per  acre  exceeded  only  a  fraction  over  ONE  DOLLAR  per  acre,  in  CUR- 
RENCY, whereas  the  Grant  made  to  the  State  of  California  has  thus  far 
been  sold  for  a  fraction  more  than  $5  per  acre,  GOLD,  and  interest 
received  therefrom  amounting  to  $203,364.65.  Bonds  have  been  pur- 
chased of  the  par  value  of  $325,000.00  at  a  cost  of  $317,122.50. 
There  is  now  deposited  with  the  Treasurer  $11,487.98  awaiting  in- 
vestment in  bonds. 

Yery   Respectfully, 

J.  HAM  HARRIS, 

Land  Agent  of  the  Uniuersity  of  California. 

SAN  FRANCISCO,  FEBRUARY  15th,  1878. 


SUPPLEMENTAL  REPORT 


IN     RELATION     TO    T1IK 


ANTS  OF  10  SECTIONS  FOR  PUBLIC  HI  IIJIM1S 


72  Sections  for  a  Seminary  of  Learning, 
^  ^K 

WmsiTyl 

),000  ACRES  FOR  INTERNAL  IMPROVEMENTS. 


SACRAMENTO: 

.STATK  OFFK'K    :    :    :    v.  p.  THOMPSON,  SUJ'T.  STATK  PKINTINC!. 

1879. 


